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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
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